Weekly cattle and sheep market wrap

01 Aug 2025

Key points

All cattle indicators lifted to their highest price since summer 2022−2023.
The lamb market progress has slowed.
Cattle slaughter remains stable, while shutdowns continue to impact sheep throughput.

Cattle market

The cattle market was strong with the supply of finished stock tightening, and every NLRS saleyard indicator hitting its highest price since the 2022–2023 summer.

National yardings dropped 17% to 50,9894 head, driven by reductions across Queensland (-22%) and NSW (-25%).

The Heavy Steer Indicator, up 18¢ for 396 ¢/kg liveweight (lwt), is sitting just 7% above the Processor Cow Indicator – up 46¢ for 374 ¢/kg lwt. 90CL export prices remain firm and there was strong processor demand for processor and dairy cows. This processor stock demand has flowed to the restocker market, lifting heifer prices 38¢ to 374¢/kg lwt.

Sheep market

Although the lamb market remained firm it hasn’t progressed to the lifts of previous weeks.

Sheep (-32%) and lamb (-27%) supply reduced. A total of 61,839 sheep went through saleyards, while 145,238 lambs were transacted. The dip was driven by reductions in all states bar Tasmania and Queensland.

Most indicators saw increases. However, the Trade and Restocker Lamb Indicators both saw 7¢ declines to 1,178¢/kg carcase weight (cwt) and 956¢/kg cwt. The National Mutton Indicator has kicked again, lifting 48¢ to 743¢/kg cwt. This is less than 1¢ off the record March 2020 mutton prices. The current seasonal supply dip – likely harshened by a weather-driven reduced lamb cohort – has increased market anticipatory competition.

Slaughter

Week ending 25 July 2025

Cattle slaughter

National cattle slaughter lifted 3% last week with 157,840 head processed - the largest July week tally. Processors across states continue to source cattle, leading to strong numbers – up 10% on last year. An 8% lift in Victoria countered slight eases across WA and Tasmania.

State-by-state breakdown of cattle slaughter:

NSW: up 3% to 37,235
Queensland: up 2% to 82,155
SA: up 3% to 3,832
Tasmania: down 3% to 4,734
Victoria: up 8% to 27,284
WA: down 7% to 2,600.

Sheep slaughter

Maintenance shutdowns continue to impact throughput with varied results for last week’s sheep and lamb slaughter

Lamb slaughter lifted slightly but remains impacted by shutdowns and a general lack of supply. 370,634 lambs were processed, up 2% on the week prior. The uplift was mostly driven by a 12% rise in NSW, which is back over 100,000 head. Year-to-date lamb slaughter has fallen under 2024 volumes, despite a strong first six months.

Sheep slaughter returned to June numbers, up 90% on the week prior. Processors returning post-maintenance drove this increase with 128,995 head processed over the week. NSW, SA and WA all saw strong volume kicks.

State-by-state breakdown of lamb slaughter:

NSW: up 12% to 107,890
Queensland: up 8% to 1,317
SA: down 2% to 26,703
Tasmania: down 20% to 5,283
Victoria: down 1% to 185,814
WA: down 3% to 43,627.

Attribute to: Erin Lukey, MLA Senior Market Information Analyst

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